"So, we knew we would get bought out, because Glamour Sales wants to grow and needed new capital," she said.

Terms of the sale weren’t disclosed. The original investment of $28 million was later followed by another $10 million. The investment was valued downward in recent quarters.

The exit wasn't a total surprise.

Last year, Neiman Marcus stopped shipping customer orders from a Glamour Sales warehouse in China and launched its own site there. Since November, the retailer hasn't had Neiman Marcus staffers located there, Reeder said.

Glamour Sales specializes in flash sales. Chinese shoppers consider online as a place to purchase bargains, but discounts are offered on Neimanmarcus.com too.